Exploring Defi - Sharing my Experiences
I remember getting into crypto and thinking wow this is a bit of a crazy space. Bitcoin was skyrocketing, Alts were doing great and IPOs were the talk of the town. Skipping a few years down the line and it looks like Defi and Eth tokens are the new IPOs and sure, if I was mad enough to explore crypto in the first place, I'm made enough to explore Defi.
My first entry into the space was a disaster. Fecking food coins. I got stung with the sushiswap drama. But hay, with a few years of crypto behind me, it's not like its the first time I made a bad trade.
I wanted to try adding liquidity to unisw to see how that plays out. So I have made a second attempt in the space. This time I seem to have been a little luckier. I got myself some yeld.finance and I added some liquidity to the uniswap pool.
In 4 days in the pool, my fees earned has been 10% on my Eth and 6% on my yeld. I'm plesantly surprised. This is rather awesome. The price of Eth is the same as it was when I entered the pool. however, the price of yeld has increased.
I wasn't sure how all this 'pool' thing worked. It's interesting to watch how the balance of pools changes via the fees and the liquidity as the price of the pairs change. As yeld has increased in price, my holding has shifted balance. I now have more eth and less yeld. However, should the price of yeld reduce and eth increase, or even eth increase at a greater rate than yeld, then my liquidity balance would shift and my yeld would increase and eth decrease.
I really needed to see all of this in action and to follow the numbers to understand what's going on and how this all works. Obviously, I set myself up with a spreadsheet so I could track things. Thankfully its been a profitable learning experience
So yeld.finance is obviously a fork of yield. however one of the major differences is this retirement farming. This allows yeld holders to continue to earn from their holding. This allows holders remove stake, but once they still hold yeld, they will still get a return. I guess it will be interesting to explore when the app is live and chances are. I will try staking some stable coins and see how it goes.
But now I have my first positive experience in the bag, I'm ready to try again. This time I have my eye on wleo. Like dohhhhhhhh!!!!!!!!!
...is it too soon to 'profile you' on my Hive News Network ?
You already 'know' the slant of my humor - no prisoners and all that - and I really wouldn't want to offend you..(I must be getting soft in my old age)
hive news network???? profile me for what? You know how I love to be center of attention, even with your slanty humor 😂
...serious question - are you over/past the covid propaganda?
Over it, how can one get over it when the kids are stuck at home with ya. Im temporarily over ot while the kids r in school. But winter is coming and its like an episode of game of thrones. We need jon snow to protect is from the white walkers aka covid 😉
I mean the psychological fear of 'we're all gonna die', side, not the real world effects of the operation.
I can't do a ribbing if you're still traumatized - I'm trying to be nice!
My middle name is 'john snow, the white walker killer'- did I not mention that before?
it's only the real-world effects that have me fucked up Mr Snow
ok, that's great to hear!
the last show...
https://peakd.com/hive-122683/@lucylin/ivubtnyg
for some reason it still feels a little scary for me still. Like exactly the sushi thing. Send your stuff and it might be gone.
But on the other hand...my cryto is just sitting and stinking and I want to do stuff with it!
WOw look at you go, I only did the DEC/ETH uniswap because I'm hoping to secure the land to offset whatever I gain or lose from Uniswap and the fees. I've made $10 so far which is fantastic for a pair with so little volume nad market depth
I guess it's about playing the ratios, seeing what works between your share of the LP pool and the pair daily volume and trying to find the best return. I've actually been doing more on TRON since you can do it for free :) no fees no fuss, just pure gains
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Nòooooooooo not tron. Hive is free too 🤣😂🤣😂🤣 why is no one building this stuff on hive. Im keeping a close eye on wleo. Im actually powering down a little to add to the pool
There is a market marker dapp on have called dswap where you can add to LP's for HIVE-Engine, but you either need to buy 100 BEE per market or over 1000 to make unlimited markets. problem is there is hardly any fees worth making on these pairs so there's no point. TRON at least has some wash trading and a few psychos willing to waste their money so why shouldn't I take it off their hands
The key is the crypto price shall increase, otherwise at end of day, there will be negative return.
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that's stating the obvious